100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
life insurance exam practice questions and answers | 100% correct $11.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Life Insurance
  4.  
  5. Life insurance

Exam (elaborations)

life insurance exam practice questions and answers | 100% correct
 7 views  0 purchase
  • Course
  • Life insurance
  • Institution
  • Life Insurance

life insurance exam practice questions and answers | 100% correct An individual applied for an insurance policy and paid the initial premium. The insurer issued a conditional receipt. Five days later the applicant and t submit a medical exam. If the policy was issued, what would be the policy's...

[Show more]

Preview 3 out of 22  pages

Document information

  • September 1, 2024
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • life insurance exam practice questions and answers

Written for

  • Life insurance
  • Life insurance

Seller

avatar-seller
SophiaBennett

Reviews received

Content preview

©SOPHIABENNETT
2024/2025 ACADEMIC YEAR




©SOPHIABENNETT 9/1/24 2024/2025

,life insurance exam practice questions
and answers | 100% correct


An individual applied for an insurance policy and paid the initial premium. The insurer

issued a conditional receipt. Five days later the applicant and t submit a medical exam.

If the policy was issued, what would be the policy's effective date?

A. The date of policy delivery

B. The date of the Issue

C. The date of application

D. The date of the medical exam - Answer✔️✔️-D. The date of the medical exam

The Federal Fair Credit Reporting Act

A. Regulates consumer reports

B. Protects customer privacy

C. Regulates telemarketing

D. Prevents money laundering - Answer✔️✔️-A. Regulates consumer reports

Which of the following is NOT the consideration in a policy?

A. The premium amount paid at the time of application

B. The promise to pay covered losses

C. The application given to a prospective insured

D. Something of valued exchanged between parties - Answer✔️✔️-C. The application

given to a prospective insured

, Something of value exchanged between the insurer and the insured is considered an

A. Acceptance

B. Legal capacity

C. Consideration

D. Offer - Answer✔️✔️-C. Consideration

The full premium was submitted with the application for life insurance, and the policy

was issued two weeks later as requested. When does the policy coverage become

effective?

A. As of the application date

B. As of the policy deliver date

C. As of the first of the month after the policy issue

D. As of the policy issue date - Answer✔️✔️-A. As of the application date

An agent and an applicant for a life insurance policy fill out and sign the application.

However, the applicant does not wish to give the agent the initial premium, and no

conditional receipt is issued. When will coverage begin?

A. On the designated effective date

B. On the application date

C. when the agent submits the application to the company and the company issues a

conditional receipt

D. when the agent delivers the policy, collects the initial premium, and the applicant

completes an acceptable Statement of Good Health - Answer✔️✔️-D. When the agent

delivers the policy, collects the initial premium, and the applicant completes an

acceptable Statement of Good Health

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80461 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.49
  • (0)
  Add to cart